Chinese Tech Firm Signs Purchase Agreements With USA Companies

ZTE Corporation announced that it has signed purchase agreements with five U.S. technology vendors at total value of USD3 billion.

Under these framework agreements, ZTE will purchase semiconductor components from Qualcomm, Texas Instruments, Freescale Semiconductor, Altera Corporation, and Broadcom over the next 3 years.

"As a publicly traded and transparent company with more than 18.72% equity owned by European and American investors, we believe it is very important for ZTE to cooperate with U.S. partners and continue to increase our investment in the U.S. market," said Ye Weimin, senior vice president of ZTE Corporation.

With steady growth since its founding 25 years ago, ZTE's operating revenue increased 10.89% year-on-year to USD4.524 billion in the first half of 2010, of which 18% is contributed from across European and American markets.

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